These tech-related companies are all 20% or more below all-time highs yet managed weekly gains last week. Here are some growth names ideas:
Investors are seeing a tough start to the week as Wall Street and global equities spew red ink. That’s as China property worries may have finally spooked markets, with giant Evergrande taking a major spill.
“Each of these stocks is in an uptrend of higher highs and higher lows, over all key moving averages. While general market direction can have an impact on all stocks, these 4 high growth leaders are showing signs of outperformance,” Tentarelli writes. The next three picks are in the cloud software space, starting with Palantir PLTR, -2.86%, which closed Friday at a 7-month weekly closing high, but remains 36.2% off its all-time highs from January. Palantir is trading above all four key daily moving averages, said Tentarelli, adding that “the 20-dma recently crossed above the 50, 100 and 200-dma, indicating very strong near-term price momentum,”
China regulators met with Wall Street representatives last week to defend their tech sector crackdown, say sources. Meanwhile, young fans of China’s version of video app TikTok are facing screen time limits.
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